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Back to the future: attribution of futures contract gains under Australia's CFC regime


Australia’s Controlled Foreign Company (“CFC”) rules have been the subject of several major reforms in recent years. The reforms have changed the scope of these rules, however, the CFC rules continue to be a significant risk area for taxpayers engaging in international transactions. This paper will focus on one particular type of transaction, namely the potential attribution under the CFC rules of gains made in respect of forward and futures contracts.

Author profile

Dr Philip Bender
Philip is a Barrister and member of the Institute of Chartered Accountants practising in State and Federal taxation, superannuation and commercial law. He is also a sessional member of the Victorian Civil and Administrative Tribunal (although he still appears as a barrister in the tax list of that Tribunal). Philip advises and appears for taxpayers and revenue authorities in State and Federal courts and tribunals and has appeared on a number of occasions in the High Court. He has also been briefed by other government agencies including ASIC, the Official Trustee in Bankruptcy and the Victorian Government Solicitor's Office. - Current at 01 October 2014
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